Syrma SGS Technology Share Price: Stock makes a robust debut, lists at over 19% premium from situation value

Syrma SGS Technologies Share Price: Shares of digital manufacturing providers agency Syrma SGS Technology debuted on a robust be aware and obtained listed at a premium of over 19 per cent from their situation value on the inventory exchanges at this time.

The scrip obtained listed at Rs 262.00 apiece on the BSE, thereby registering a achieve of 19.09 per cent from its supply value of Rs 220.00, whereas on the National Stock Exchange (NSE), it opened at Rs 260.00, up 18.18 per cent from the problem value.

The inventory additional rose from its opening ranges and touched a excessive of Rs 293.00 on the BSE and Rs 293.30 on NSE in the course of the first 10 minutes of commerce.

At 10:10 am, the scrip was buying and selling at Rs 288.35 on the BSE, up 31.07 per cent from the problem value whereas on NSE it was at Rs 288.90, up 31.32 per cent. The market capitalisation stood at Rs 5,075.40 crore, knowledge from the BSE confirmed.

Over 2.30 crore shares of Syrma SGS Technology have been traded to this point on NSE whereas round 17.99 lakh shares exchanged fingers on the BSE, knowledge from the respective inventory alternate confirmed.

Syrma SGS Technology is a technology-focused engineering and design agency that’s engaged in turnkey electronics manufacturing providers (EMS) that specialises in precision manufacturing. Some of its prime prospects embrace TVS Motor Company, AO Smith India Water Products, Robert Bosch Engineering and Business Solution, Eureka Forbes and Hindustan Unilever.

The IPO was accessible for public subscription from August 12-18, 2022 and obtained subscribed 32.61 instances by the ultimate day.

Reacting to the sturdy itemizing, Santosh Meena, Head of Research at Swastika Investmart commented, “The company’s good listing can be attributed to positive market sentiments, outstanding prospects, and a good response from the investors. With a huge focus on R&D-based innovation and an experienced management team, the company has managed to enter into various growing segments like PCBA, Radio Frequency Identification (RFID), Electromagnetic and electromechanical parts, and other information technology-related products. The company’s geographically diversified manufacturing locations and the business model which starts from product concept design & focuses on every segment of the overall industry value chain give them a competitive advantage over other players.”

He additional famous, “The issue was priced at a P/E of ~65X (Based on the Restated Consolidated Financial Information, RHP). However, we believe that the company deserves this premium multiple due to its phenomenal growth prospects. Those who applied for listing gains can maintain a stop loss of Rs 225. New investors can buy for the long term and existing investors are recommended to stay invested in the company.”

Ravi Singh, vice chairman and head of analysis at Share India Securities advised indianexpress.com, “The segment in which Syrma SGS is dealing i.e., electronics manufacturing services has a positive outlook ahead. The company is also focusing on products bearing high margins. SSTL’s manufacturing facilities in Tamil Nadu are located in a special economic zone which allows it to avail of certain tax and other benefits. Investors may hold the stock with a medium to long term perspective.”